Entrepreneurship Archives

Building a Business Model From Scratch

Do you have a business idea in mind? What are the key business aspects you need to consider when building a business model? Starting a business requires a business model which defines how the different elements of your business will function together to make a profit. If you are a beginner entrepreneur, you’re likely at a loss: Where do you even start? Fortunately, there is a simple framework designed specifically for building a coherent business model from scratch. In this article, you’ll learn how to build a business model from scratch using the Business Model Canvas framework by Osterwalder and

Rework: Jason Fried & David Hansson’s Philosophy

What is Jason Fried and David Hansson’s entrepreneurship philosophy? What is the benefit of keeping a company small and lean? In their book Rework, Jason Fried and David H. Hansson champion a simpler, cheaper, less labor-intensive way to manage any company. In brief, you don’t need an MBA, outside investors, strategic plans, or a board of directors to launch a business. You don’t even need an office. Instead, you need to reject old-school myths, embrace simplicity, and run your company like a smart, frugal, well-oiled machine. The Rework philosophy is 6-fold.

What Is a Value Proposition?—Business Basics

What exactly is a value proposition? Why is it important to provide unique value to your customers? As the name suggests, your business’s value proposition is the value you provide to your customers in the form of products or services. When defining your value proposition, consider the nature of your product/service and how it is different from your competitors’ products/services. If you’re servicing the same customers, with the same needs, at the same price, you are not providing unique value. Here are some things to consider as you define how you intend to offer value to your customers.

5 Strategies to Drive Business Innovation

What makes a business innovative? What can you, as a leader, do to trigger innovation at your organization? Innovative companies regularly introduce new products/services and revise their processes to affect positive changes in their business. From shifts in the economic environment to market research insights, there are many ways to spark innovation. In this article, we’ll look at a few business innovation strategies you can use to generate innovative ideas to adapt or create your own business models.

Business Momentum: Faster Isn’t Always Better

Is strong momentum good for a startup? How can momentum derail your business from its intended direction? All entrepreneurs are excited to see their venture grow. However, as your business’s momentum picks up, it’s easy to lose sight of which activities are worth your while. To ensure your business isn’t derailing from your intended direction, follow these principles.

6 Principles of a Healthy Startup Culture

How does a company culture develop in a startup? How do you ensure a healthy company culture in a new business? A startup company culture develops over time through consistent positive actions, not by installing foosball tables or espresso machines. Once established, company culture solidifies and becomes very difficult to change. Therefore, it is important to keep your eye on its evolution and intervene when necessary. Here are six principles to cultivating a healthy startup culture in which staff members do their best and enjoy their jobs.

Hiring for a Startup: 10 Guidelines for Success

How to Be a Good Salesman: The Qualities You Need

What are some things you, as a business founder, should know when hiring for a startup? Why is it important to hire the right person from the get-go? Effective hiring for a startup business is crucial to the future success of your venture. As your staff begins to grow beyond the founding team, every hire will have an increasingly greater effect on both company culture and performance. The following guidelines spell out when and how to hire (and when not to) for a startup.

10 Essential Tips for Beginner Entrepreneurs

Do you dream of starting your own business? What are some things you should know before you take the plunge? Starting your own business to become your own boss is a dream come true for many people. The vision is exciting, but the reality is not so much: Running a business on a tight budget, making decisions, and being a jack-of-all-trades takes both an emotional and physical toll. From those who’ve been there and done that, here are 10 essential tips for beginning entrepreneurs.

The Co-Founders of 37signals Share Their Secrets

Who are 37signals? What do the company founders attribute their success to? Co-founders Jason Fried and David Heinemeier Hansson of 37signals, a company that creates project-management software and other online management tools, believe that anyone can start and operate a business with fewer resources than they think. Based on their own startup success, they champion a simpler, cheaper, less labor-intensive way to manage any company. Here are 10 insights they gained while keeping 37signals intentionally small and lean.

Adopt a Supportive Leadership Style: Ask This Question

How to Embrace Vulnerability in Leadership

What is a supportive leadership style? What difference can it make for your team? Too often, managers control, micromanage, or rescue their employees. In contrast, a supportive leadership style wins your team members’ trust and respect—and it allows them to grow. The Coaching Habit recommends making a habit of asking one particular question. Read more to learn the question at the heart of a supportive leadership style.